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Today Regulatory Compliance and Data Governance
must be viewed as a business imperative.
Data is a strategic asset, and regulatory compliance is an innovation enabler. More than ever
before, BFSI entities realise that effective regulatory compliance and reporting is a
competitive differentiator.
What are the crucial themes for 2023’s
Regulatory Compliance Narrative?
![](https://maveric-systems.com/wp-content/uploads/2023/04/weather.png)
Climate Risk Management
and ESG Priorities
![](https://maveric-systems.com/wp-content/uploads/2023/04/technology.png)
Community Reinvestment Act
(CRA) Regulatory Modernization
![](https://maveric-systems.com/wp-content/uploads/2023/04/customer-care.png)
Compliance and
Consumer protection
![](https://maveric-systems.com/wp-content/uploads/2023/04/hack.png)
Heightened focus on
Financial Crime Management
and AML act
![](https://maveric-systems.com/wp-content/uploads/2023/04/cryptocurrencies.png)
Cryptocurrency
![](https://maveric-systems.com/wp-content/uploads/2023/04/conflict-of-interest.png)
Impact of the
Ukraine-Russia conflict
![](https://maveric-systems.com/wp-content/uploads/2023/04/security.png)
Cybersecurity
Regulatory Compliance Landscape
in the EU
ESG: Embed in all EBA’s products and activities
Five Vertical Priorities (VP) in the EU
have been further prioritized
HP1 2023-ESG: Execution of the ESG roadmap
Other Key Changes in the
EU’s Regulatory Compliance Landscape
![](https://maveric-systems.com/wp-content/uploads/2023/04/restriction.png)
Implementation of restrictions on Russia following the attack on Ukraine
![](https://maveric-systems.com/wp-content/uploads/2023/04/risks.png)
Systemic risk buffer by the National bank of Belgium
![](https://maveric-systems.com/wp-content/uploads/2023/04/check-list.png)
Supervisory review and evaluation process (SREP) and categorization of institutions
![](https://maveric-systems.com/wp-content/uploads/2023/04/data.png)
EBA Reporting Framework and Validation Rule changes and securitization
![](https://maveric-systems.com/wp-content/uploads/2023/04/monitor.png)
Additional liquidity monitoring metrics
![](https://maveric-systems.com/wp-content/uploads/2023/04/alert.png)
Extended Warning Validations and Error Validations
![](https://maveric-systems.com/wp-content/uploads/2023/04/hack01.png)
Financial Crime Management - Drivers, Coverage, Benefits, Major areas, Obliged Entities, Financial Supervisors, New Rule Book, Customer Due Diligence, PEP, Beneficial Ownership
![](https://maveric-systems.com/wp-content/uploads/2023/04/cryptocurrency.png)
Crypto currencies and BCBS proposed changes, including MiCA (markets in Crypto Assets)
![](https://maveric-systems.com/wp-content/uploads/2023/04/sustainable.png)
ESG and DORA
Regulatory Compliance Landscape
in the US
![](https://maveric-systems.com/wp-content/uploads/2023/04/file-protection.png)
Changes in the Regulatory Reporting across trading in US treasury and debt and mortgage-backed securities
![](https://maveric-systems.com/wp-content/uploads/2023/04/stamp.png)
Changes in the Validation Rules with validity and quality edits
![](https://maveric-systems.com/wp-content/uploads/2023/04/protected.png)
Enhanced Drive for Financial Crime Management
![](https://maveric-systems.com/wp-content/uploads/2023/04/cryptocurrency01.png)
Increased scrutiny for Cryptocurrency, ESG and Operational Resilience
![](https://maveric-systems.com/wp-content/uploads/2023/04/bank.png)
Changes in Regulations for Community Banks and Financial Market Utilities
Why are the Regulatory Reporting Platforms
gaining prominence?
![](https://maveric-systems.com/wp-content/uploads/2023/04/online-banking.png)
The emergence of comprehensive platforms to address COREP, FINREP, Liquidity, Stress testing, and IFRS
![](https://maveric-systems.com/wp-content/uploads/2023/04/global-network.png)
Platforms are needed to address jurisdictional requirements across Asia, EU, and the US
![](https://maveric-systems.com/wp-content/uploads/2023/04/innovation.png)
The evolution involves segregation of transaction data collation and validation from the computation part so that the reporting is faster and on time
![](https://maveric-systems.com/wp-content/uploads/2023/04/digitalization.png)
The evolution of digital intelligence platforms provides regulatory information in a structured and digital form
Regulatory Reporting
Platforms Architecture
- Regulatory Intelligence
- Regulatory Reporting
- Risk Computations
- Data Lineage
- ETL
- Analytical and Visualization
Why are Financial Crime Management
Reporting Platforms Crucial?
![](https://maveric-systems.com/wp-content/uploads/2023/04/3d-model.png)
Increased shift to digital fulfillment, partly accelerated by Covid and further accentuated by the growing digital savvy and native customers
![](https://maveric-systems.com/wp-content/uploads/2023/04/hacker.png)
Cyber threats have grown in sophistication and are keeping pace with digital growth
![](https://maveric-systems.com/wp-content/uploads/2023/04/attack.png)
Supervisors are coming up with regulatory changes at a pace unknown before to cope with the trends both in digitization as well as cybercrime and the activism on the consumer side
Regulatory Reporting
Platforms Architecture
- Identity and authentication
- KYC, KYB and Pep scanning
- Customer Life Cycle
- Security Tools
- Regulatory Intelligence
- Documents scanning and conversion
- KYC, KYB and Pep scanning
- Transaction monitoring
- Payments
- Alerts
- Regulatory Intelligence
- Case Management